Sistema Pays Over $500 Million
For Russian Energy Assets

MOSCOW -- AFK Sistema said it will pay more than $500 million for a collection of Russian energy assets, an unexpected investment for the Russian consumer-services holding company.

Sistema said it will pay $502.9 million in cash for minority stakes in refineries, a petrochemical plant, an oil-product distribution network, an electricity producer and midsize oil company OAO Bashneft. The assets are in Russia's semiautonomous republic...